Q2 (NYSE:QTWO) Price Target Raised to $108.00 at Royal Bank of Canada

Q2 (NYSE:QTWO) had its target price raised by Royal Bank of Canada from $105.00 to $108.00 in a research report report published on Thursday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the technology company’s stock.

Other equities analysts also recently issued research reports about the stock. Stephens reissued an “overweight” rating and issued a $115.00 price objective on shares of Q2 in a research note on Thursday. Morgan Stanley increased their price target on Q2 from $65.00 to $90.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Compass Point boosted their price objective on Q2 from $91.00 to $107.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Citigroup increased their target price on Q2 from $96.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Raymond James lifted their price target on Q2 from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $102.13.

Q2 Trading Up 0.9 %

Q2 stock opened at $92.82 on Thursday. The stock has a fifty day moving average of $98.99 and a 200-day moving average of $88.08. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.50 and a quick ratio of 2.50. Q2 has a 52 week low of $41.23 and a 52 week high of $112.82.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.30). Q2 had a negative return on equity of 2.30% and a negative net margin of 8.40%. Equities research analysts forecast that Q2 will post 0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Q2 news, President Kirk L. Coleman sold 10,428 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $106.42, for a total transaction of $1,109,747.76. Following the completion of the sale, the president now directly owns 337,643 shares in the company, valued at approximately $35,931,968.06. This trade represents a 3.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James Offerdahl sold 548 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $104.95, for a total value of $57,512.60. Following the completion of the transaction, the director now directly owns 18,241 shares in the company, valued at $1,914,392.95. This represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,836 shares of company stock worth $3,061,035. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Q2

Institutional investors and hedge funds have recently modified their holdings of the business. Conestoga Capital Advisors LLC lifted its position in shares of Q2 by 1.5% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,308,194 shares of the technology company’s stock valued at $184,125,000 after acquiring an additional 34,300 shares during the period. William Blair Investment Management LLC bought a new stake in Q2 in the fourth quarter valued at $202,645,000. State Street Corp raised its holdings in shares of Q2 by 0.3% during the third quarter. State Street Corp now owns 1,668,767 shares of the technology company’s stock valued at $133,118,000 after purchasing an additional 5,000 shares during the period. Geode Capital Management LLC boosted its position in shares of Q2 by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 1,389,181 shares of the technology company’s stock worth $140,175,000 after purchasing an additional 36,025 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Q2 by 107.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,345,741 shares of the technology company’s stock valued at $135,449,000 after buying an additional 698,464 shares during the period.

About Q2

Q2 Holdings, Inc provides cloud-based digital solutions to regional and community financial institutions in the United States. The company offers Digital Banking Platform, an end-to-end digital banking platform supports its financial institution customers in their delivery of unified digital banking services across digital channels.